Today, Bitfarms, the Toronto-based global Bitcoin and vertically integrated data center company, announced its plans to conduct a comprehensive feasibility analysis on all its North American sites and provide guidance on its global HPC/AI strategy.
The analysis, involving Appleby Strategy Group (“ASG”) and World Wide Technology (“WWT”), will explore how the company could potentially transform some of its facilities to meet the growing demand for AI data centers.
The move is considered significant for crypto, as miners have started to leverage the AI boom by transforming parts of their operations into data centers, as they already possess much of the necessary infrastructure.
Bitfarms, founded in 2017, currently has 12 operating Bitcoin data centers and two under development, as well as hosting agreements with two data centers, in four countries: Canada, the United States, Paraguay, and Argentina.
In a statement to investors, Bitfarms CEO Ben Gagnon said, his company is committed to maximizing the utility and value of its North American portfolio.
“Based on active discussions over the past several months with potential HPC/AI partners and customers, we are confident that our North American portfolio pipeline, particularly sites located on the PJM grid, is strongly suited for HPC/AI. The contracts associated with HPC/AI customers provide long-term, steady cash flows and earnings streams while our Bitcoin mining operations will continue to monetize Bitcoin’s flexible upside potential, creating a powerful and resilient portfolio that will generate long-term value for our shareholders.”
By CEO NA Editorial Staff
